Six Flags announces shareholder rights plan

By Lisa Kerner

Charlotte, N.C., Dec. 3 - Six Flags, Inc.'s board of directors adopted a shareholder rights plan as "a measured response given market volatility."

According to Six Flags, one right will be distributed as a dividend on each share of common stock held as of Dec. 17.

Each right entitles the holder to buy one one-thousandth of a share of series A junior preferred stock for $1.25.

The rights are triggered if any person or group becomes the beneficial owner of 15% or more of Six Flags' common stock. Then each right will entitle its holder to purchase shares of Six Flags common stock having a market value of twice the right's then-current exercise price, a company news release said.

Six Flags, a New York-based regional theme park company, said the rights plan will expire on Dec. 2, 2018.

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